Financial Performance - GAAP net income was approximately $143 million, a $7.1 million increase quarter-over-quarter[21] - Adjusted diluted earnings per share increased from $1.37 in Q1 2024 to $1.65 in Q1 2025[48] - Southwest Gas expects to issue less than $100 million of equity in 2025 through the existing ATM program, pending Centuri exit path[56] - Southwest Gas reaffirmed its 2025 net income guidance of $265 - $275 million and CapEx of ~$880 million[19, 61] - The company is targeting a 6.0% to 8.0% net income growth and 6.0% to 8.0% rate base growth from 2025-2029[19] Regulatory Updates - Arizona general rate case approved, resulting in ~$80.2 million revenue increase, a 9.84% allowed return on equity, and a 48.5% allowed equity capitalization[21, 25] - GBGTC rate case approved, leading to a revenue increase of ~$9.6 million[25] - California rate case filed in September 2024, requesting a revenue increase of ~$44 million, with rates anticipated to become effective January 2026[25, 37] Growth and Operations - Approximately 40,000 new meter sets were added during the last 12 months, resulting in a 1.8% customer growth rate[21] - Operations and maintenance expense decreased by 1.1% over the first three months of 2025 compared with the same period in 2024[21] - The company projects a population growth of 4.40% in Arizona and 3.42% in Nevada from 2025 to 2030[42]

Delivers a Last-Twelve-Months' Utility ROE of 8.2% and Earnings Growth of 5.2% over 1Q 2024 Receives ~$80.2 Million Annual Revenue Increase from Completed Arizona Rate Case LAS VEGAS, May 12, 2025 /PRNewswire/ -- Southwest Gas Holdings, Inc. (NYSE: SWX) ("Southwest Gas Holdings" or "Company") today reported results for its first quarter ended March 31, 2025. This earnings press release should be read in conjunction with the Form 10-Q and earnings slides, which are concurrently being posted at www.swgasholdi ...

Group 1: Market Overview - Stocks experienced volatility as the Federal Reserve maintained interest rates in the range of 4.25-4.5% during its May FOMC meeting, amid high inflation and economic uncertainty due to tariffs [1][4] - The U.S. economy contracted by 0.3% in Q1 2025, contrary to expectations of a 0.4% growth, raising recession fears [7] Group 2: Investment Recommendations - Defensive stocks, particularly in the utilities sector, are recommended for investment, including The AES Corporation, DTE Energy Company, Atmos Energy Corporation, and American Water Works Company, all carrying a Zacks Rank 2 (Buy) [2][3] - These stocks are characterized as low-beta (beta < 1) with high dividend yields, making them attractive during market volatility [3] Group 3: Company Profiles - **The AES Corporation**: A global power company with operations in 14 countries, expected earnings growth rate of 1.4%, Zacks Rank 2, beta of 0.94, and a dividend yield of 6.74% [8][9] - **DTE Energy Company**: A diversified energy company with an expected earnings growth rate of 6%, Zacks Rank 2, beta of 0.47, and a dividend yield of 3.17% [10] - **Atmos Energy Corporation**: Engaged in regulated natural gas distribution, with an expected earnings growth rate of 5.3%, Zacks Rank 2, beta of 0.74, and a dividend yield of 2.15% [11][12] - **American Water Works Company**: Provides water services to over 14 million customers, with an expected earnings growth rate of 6.1%, Zacks Rank 2, beta of 0.73, and a dividend yield of 2.08% [13][14]

Financial Data and Key Metrics Changes - UGI reported a 12% year-over-year increase in adjusted diluted EPS for the fiscal second quarter, achieving the highest adjusted diluted EPS in the company's history [5] - The fiscal 2025 guidance range for adjusted diluted EPS has been increased to $3.00 to $3.15, driven by favorable weather conditions and operational improvements [8][11] - The balance sheet showed $1,900,000,000 in available liquidity and a leverage ratio of 3.8 times at the end of the quarter [5][19] Business Line Data and Key Metrics Changes - The Utility segment reported EBIT of $241,000,000, up $15,000,000 year-over-year, primarily due to colder weather [14] - Midstream and Marketing segment EBIT was $154,000,000, comparable to the prior year, with total margin increasing by $2,000,000 [15] - AmeriGas reported EBIT of $154,000,000, an increase of $16,000,000 year-over-year, driven by higher LPG volumes due to colder weather [18] Market Data and Key Metrics Changes - Regional natural gas demand continues to show robust growth, particularly in response to colder weather patterns [6] - UGI International experienced a 4% decline in LPG volumes, impacted by structural conservation and customer conversions from LPG to natural gas [16] Company Strategy and Development Direction - The company is focusing on operational excellence and strategic infrastructure investments, particularly in the regulated utility business [21] - AmeriGas is implementing process improvements to enhance customer retention and operational efficiency [21] - The company is well-positioned to leverage its infrastructure for growth in natural gas demand, particularly in the Appalachian region [39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the underlying strength of the business and the ability to execute strategic priorities in the second half of the fiscal year [11] - The company is optimistic about improving AmeriGas operations and enhancing customer service ahead of the next winter season [30] Other Important Information - The company deployed $160,000,000 in capital investment during the quarter, primarily in natural gas businesses [7] - Free cash flow for the year to date was approximately $490,000,000, up 55% year-over-year [19] Q&A Session Summary Question: Can you discuss the learnings from AmeriGas this winter and targets for the upcoming fiscal year? - Management highlighted the focus on improving business processes and operational efficiency, with several key projects underway to enhance service and reduce costs [25][26] Question: Update on refinancing the 2026 maturities? - Management confirmed that objectives remain unchanged, with a focus on addressing the $664,000,000 due in late August [32] Question: Thoughts on UGI's positioning regarding Appalachian natural gas demand? - Management noted ongoing discussions with potential generators and data centers, emphasizing the company's strategic location and infrastructure [38] Question: Quantification of incremental margin or EBITDA from AmeriGas for fiscal 2026? - Management refrained from providing specific numbers but emphasized the importance of strengthening business processes and focusing on high-margin customers [45][46] Question: Comments on fiscal second half drivers and implied net loss? - Management explained that colder weather in the first half led to a shift in capital and operational expenditures to the second half, impacting earnings timing [49][50]

Analyst Call to Review Fiscal 2025 Second Quarter Financial Results May 8, 2025 10:00 a.m. Eastern • 8.1% increase in fiscal 2025 indicated annual dividend to $3.48 per diluted share Q2 Fiscal 2025 Financial Performance Fiscal 2025 Highlights • Financial Performance • Executed Our Regulatory Strategy • Strong Balance Sheet 1. 3.90% effective rate after giving effect to the offering costs and settlement of our interest rate swaps. As of May 7, 2025 Fiscal Q2 2025 Review As of May 7, 2025 Page 2 Page 3 • YTD ...

May 2025 Investor Presentation Fiscal 2025 Second Quarter and Year-to-Date Financial Results Non-GAAP Measures This presentation includes the non-GAAP financial measures NFE/net financial loss, NFE per basic share, financial margin, utility gross margin, adjusted funds from operations and adjusted debt. A reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP can be found below. As an indicator of NJR's operating ...

HAMPTON, N.H., April 01, 2025 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE: UTL) (unitil.com) today announced that it has entered into a definitive agreement to acquire Maine Natural Gas Company ("Maine Natural") from Avangrid Enterprises, Inc., for $86.0 million on a debt-free basis, subject to adjustment for closing working capital and transaction expenses. Upon closing of the transaction, which is expected to occur by the end of 2025, Maine Natural will become a wholly owned subsidiary of Unitil. The tra ...